BOSTON FED’S ROSENGREN Q&A: DISTRESS AHEAD FOR HEAVILY LEVERAGED
–Pandemic Likely To Be A Bigger Financial Distress Problem NEW YORK (MaceNews) – Boston Federal Reserve Bank President Eric Rosengren opposed the pre-crisis rate cuts and now he is being proven right, the pandemic’s effects will be worse than otherwise because the Fed had less ammunition while some individuals and firms accumulated too much low-interest […]
DATA FLASH: US MARCH MANUFACTURING ISM TICKS DOWN ON UNCERTAINTY
-Decline Follows Disappointing Regional Data, Markit Revised Lower By Kevin Kastner WASHINGTON (MaceNews) – Manufacturing sector activity contracted modestly in March according to the Institute of Supply Management, slightly better than the regional data leading up to it, but likely the first in a string of monthly declines. The headline PMI index fell to 49.1 […]
Data Flash: US March Confidence Falls; Social Distance Rules, Coverage Rage On
-Conference Board’s Measure Echoes Michigan Sentiment By Kevin Kastner WASHINGTON (MaceNews) – The Conference Board’s U.S. consumer confidence index fell in March to a reading of 120.0 from 132.6 in February, another indication that COVID-19 had severely impacted the psyche of consumers in just a few weeks, the Conference Board reported Tuesday. The report, based […]
Data Flash: February Real PCE Up 0.1%, But March Plunge to Come
–US February Personal Income Up 0.6%, Nominal PCE Up 0.2%, Core Prices +0.2% –U.S. March Michigan Sentiment Index Revised Down to 89.1 By Kevin Kastner WASHINGTON (MaceNews) – Real Personal Consumption Expenditures rose by 0.1% in February, a second straight gain and a positive for first quarter consumption and GDP, the Commerce Department reported Friday. […]
WHITE HOUSE WATCH: GRUESOME VIRUS DEVELOPMENTS HARDLY NEWS ANY MORE
By Denny Gulino WASHINGTON (MaceNews) – Virus infection cases kept multiplying Thursday, death tolls kept going up, more governors and mayors ignored President Trump’s dream of packed churches on Easter and the U.S. kept mostly ignoring the kind of contact tracing that slowed the virus to a crawl elsewhere. By one count the U.S number […]
DATA FLASH: US INITIAL CLAIMS SOAR AS MILLIONS LAID OFF; MORE TO COME
–Initial Claims Jump by 3.001 Mln To Record 3.283 Mln By Kevin Kastner WASHINGTON (MaceNews) – With millions laid off in the March 21 due to business shutdowns, initial jobless claims surged to a record high level in Thursday’s data, and are likely to go further as displaced workers sign up for benefits and any […]
DATA FLASH: US FEB DURABLE GOODS ORDERS +1.2%
–FHFA Home Price Index +0.3% By Kevin Kastner WASHINGTON (MaceNews) – US durable goods new orders rose solidly in February, but the headline number was almost entirely driven by a transportation surge, the Commerce Department reported Wednesday. Orders rose by 1.2% (-0.6% expected) in February but were down 0.6% (-0.3% expected) when a 4.6% jump […]
WHITE HOUSE WATCH: ‘DIFFICULT TRADEOFFS;’ UNPRECEDENTED QE; ACCELERATING INFECTION
–US Fatalities Top 100 in One Day For First Time –Phase 3 Congressional Help Days Away At Best –Federal Reserve Goes Big, Bigger, Biggest By Denny Gulino WASHINGTON (MaceNews) – Americans who in even greater numbers are staying at home Monday were suddenly being asked to choose between two virus scenarios, one espoused by medical […]
WHITE HOUSE WATCH: MILLIONS FACE MONDAY WITHOUT JOBS, RELATIVES, FRIENDS
–Congress Hits a Speed Bump on the Way to Spending Nearly $2 Trillion By Denny Gulino WASHINGTON (MaceNews) – As U.S. cases of the corona virus now double every two and a half days, more than 84 million Americans are spending a bleak Sunday night facing a week ahead – and maybe months beyond either […]
FED’S EVANS: POLICY REVIEW INCLUDES MAXIMUM RATE OF EMPLOYMENT
By Suzanne Cosgrove CHICAGO (MaceNews) – Chicago Fed President Charles Evans Thursday said the Fed is continuing to review measures of its dual goals of price stability and maximum employment as part of an examination of its policy framework begun late last year. “One of the key questions facing us today is whether the economy […]